Pound gains after positive Brexit news
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 17, 2018
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Sterling rallied more than half a percent to hit a two-day high after a media report that Britain would tell Brussels it was prepared to stay in the European Union’s customs union after a transitional arrangement. Britain will tell Brussels it is prepared to stay in the customs union beyond 2021 as ministers remained deadlocked […]
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Employment Data Positive
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 15, 2018
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British employers hired many more workers than expected in early 2018 but wage growth has yet to accelerate sharply, according to figures that leave the Bank of England still waiting for signs the economy is ready for a rise in interest rates. Employment rose by 197K during the first three months of this year, the […]
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Dollar weakens after recent highs
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 14, 2018
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Sterling rose on this morning against the dollar which weakened against other majors. Investors focused on economic data that could help the pound recover after the Bank of England last week held rates and cut its growth projections. The rally in the dollar lost momentum after tame U.S. inflation data tempered expectations for a faster […]
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Market Update
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 11, 2018
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Today seems likely to be a quiet end to the week with no significant new economic data in either the Eurozone or the UK. Today’s second reading for April Spanish CPI inflation is expected to be unchanged from the initial reading. That would be consistent with no revision to the aggregate Eurozone measure due next […]
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All doom and gloom for Sterling
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 10, 2018
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British Industrial growth slightly rose in March, therefore confirming a gloomy first quarter for the economy that pretty much confirms no Bank of England interest rate hike later today. The data, released along with figures for the construction industry and overseas trade, did nothing to alter the picture of an economy that has struggled for […]
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Rate hike expected now in August
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 9, 2018
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The Bank of England will wait until August before raising interest rates, according to polls taken over the last few days. We expected a rate rise this Thursday, but a massive turnaround after comments from BoE Governor Mark Carney, together with weak data suggesting Britain’s economy is barely growing. At the start of April, they […]
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Sterling continues to be volatile ahead of Thursday
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 8, 2018
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GBP dropped off today as many investors have continued to off-load the pound ahead of the Bank of England meeting this Thursday when the central bank is expected to keep interest rates on hold, and as worries about Brexit negotiations resurface. Tensions within Britain’s governing Conservative party over how to agree terms of exit from […]
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UK Services Data Disappoints
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 3, 2018
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Sterling gained slightly yesterday after positive manufacturing data however the negative numbers continued this morning after a major survey showed Britain’s services sector struggled to recover in April from a sharp slowdown in March, further squeezing expectations of an interest rate hike next week. The IHS Markit/CIPS services purchasing managers’ index rose to 52.8 in […]
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Sterling Steadies
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 2, 2018
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The British pound regained some recent losses against the euro and dollar after today’s better-than-expected UK construction PMI, which was surprisingly better following a recent string of disappointing UK economic data. The UK construction sector activity rebounded sharply in April, with the final Markit Purchasing Managers’ Index (PMI) jumping to 52.5 points as compared to […]
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UK Manufacturing hits a 17 month low in April
- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
- May 1, 2018
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Banks have pushed out their predictions for when the Bank of England will raise interest rates after data last week showed a sharp and unexpected slowdown in Britain’s economic growth. Expectations the British central bank would raise borrowing costs in May had already weakened after Governor Mark Carney highlighted “mixed” economic data and noted there […]
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